No new money has been coming onto exchanges over the long weekend. Market is (IMO) over-reacting to the ICO news as far how it affects bitcoin. Technicals say good prospects for a bounce here.
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Daily chart:
...the trend is up, until we go below $4000 stick with the trend.
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Looking good, just got to avoid a huge dump over the next few days (seems unlikely)
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Tested $4000, held well, not out of the woods yet but looks like the bounce coming now:
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About an hour ago mine a few miners confirmed at breaking bitcoin they will not be mining 2x...bullish
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Less volume on the last drop...could be setting up for a nice inverse h + s on the 2h:
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Inverse h + s breaking out on the 2h:
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WSJ FUD article dropping the price, article claims exchanges are going to be shut down but doesn't really provide any concrete evidence.
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Let's hope the .618 fib holds for nice right shoulder, if not that probably mean FUD prevails and we're going below $4000:
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Charlie Lee, Jihan Wu, and others claiming the news is likely true. Careful here! (price at 4160 at the time of writing). A trip all the way down to $3000 not out of the question. $4000 support is crucial.
